The entire nation is crippled by the pandemic. Companies are failing and filing for bankruptcy. This pandemic has created an economic crisis of epic proportions. But, a man in Florida has allegedly used these the corona relief funds to buy a Lamborghini!
David T Hines was arrested by the authorities for alleged misuse of the Paycheck Protection Program and fraudulently obtaining the funds. Hines has allegedly used this money for a variety of luxury expenses including a Lamborghini Huracán, a luxury holiday at top hotels, jewelry and clothing shopping and dating sites, according to the Miami Herald .
The authorities seized a sizable sum of $3.4 million and the luxury car from Hines. Hines has misused the loan program, which was established to help struggling businesses during this economically trying times to make their ends meet.
He has made several false claims in the loan form such as grossly overpaying his employees and even creating imaginary employees according to the Department of Justice (DoJ). The funding of this program was supposed to be used for essential costs such as employees and rent, but Hines obviously hasn’t gotten the memo!
But Hines’ overstated expenditure did not show up in the bank records.
The man was charged on July 28th for giving false statements to a financial institution, engaging in transactions in unlawful proceeds and bank frauds in the Southern District of Florida. If convicted, he could be facing 70 years in jail, according to The New York Times.
He was given a bond of $100,000 after a weekend in the detention center. He is now at his mom’s place with a GPS monitor.